Texas Special District Local Laws Code Chapter 1083 > Subchapter D – General Financial Provisions
Current as of: 2024 | Check for updates
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Other versions
| § 1083.151 | Budget |
| § 1083.152 | Fiscal Year |
| § 1083.153 | Audit |
| § 1083.154 | Financial Report |
| § 1083.155 | Depository |
Terms Used In Texas Special District Local Laws Code Chapter 1083 > Subchapter D - General Financial Provisions
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.